a few questions.., page-2

Ramsey,

the current cash position of the company is $5million as is disclosed in the investor presentation dated 7-Dec. The company will obtain a further $3.5 million from the issue of a second tranche of shares to Magma Resources, which awaits FIRB approval. So total cash balance is $8.5 million.

The company needs a lot more cash to go into production and atm they're expensing available cash as deposits to procure machinery for plant construction/mining. IMO, they'll need another ~$25 million before production starts late next year. So a capital raising is definitely on the books, how much of it will be debt financing/equity raising, I don't know.